The Village of Cross Plains Finance Advisory and Enhancement Committee on Jan. 6 approved the Nov. 5, 2025 minutes and examined recent purchases, grant reimbursements and capital financing options.

Minutes approval: A member moved to accept the Nov. 5, 2025 minutes; the motion was seconded and the committee voted unanimously in favor.

Purchases and invoices: Members reviewed the check register and packet. They identified a $24,000 invoice for installation of a new pump at the sewer plant and an approximately $46,000 combined invoice referenced in the packet; members requested clearer invoice descriptions and agreed to verify which vendors and projects those charges corresponded to. The committee also discussed a $31,600 pass‑through payment to a vendor labeled "E and S," which staff said represented state funding the village transmits on behalf of another entity.

Projects and grants: Members discussed remaining legacy project expenses (pavilion kit and associated reimbursements) and two $250,000 grants (for a total of $500,000) to build a section of the KP trail. Because of utilities such as telephone poles, the trail alignment must use part of the roadway in places; the county committed to pay half the road work to accommodate the trail. Committee members noted grant deadlines and emphasized the need to proceed to avoid losing grant funding.

Financial report and fund balance: Staff reported projected additional interest income of approximately $258,000 for 2025; the committee discussed directing those earnings to reduce borrowing for the new village building and to increase the fund balance. One agenda item to be added for future consideration is a formal policy on allocating interest income among village funds.

Loan payoff discussion: Committee members asked staff to bring exact loan documents and interest rates for a TID‑related loan that had previously been flagged for possible early payoff. Some members recalled prior committee support for early payoff if cash flow permitted; staff will produce cash‑flow projections and loan interest figures for a recommendation at the next meeting.

Next steps: Staff will clarify invoice descriptions, confirm vendors tied to specific invoices, provide precise loan interest rates and cash‑flow projections for a possible early payoff, and return with the requested details at the committee’s next meeting.